News 2008-07-05 Andanh.com

Accounting Plan Would Allow Use of Foreign Rules Sat, 05 Jul 2008 05:51:05 GMT
Officials say regulatory changes would attract investment and enhance U.S. competitiveness, but critics say the changes would dilute safeguards.

Merrill Said to Be in Talks to Sell Bloomberg Stake Sat, 05 Jul 2008 06:00:15 GMT
Merrill Lynch, seeking capital, may sell its 20 percent stake in the financial data company, people involved said.

Consortium Rescues Bell Canada Takeover Sat, 05 Jul 2008 04:04:35 GMT
The closing date for the $52 million buyout has been moved.

Why Fly When You Can Float? Sat, 05 Jul 2008 04:25:35 GMT
As the cost of fuel soars and the pressure mounts to reduce carbon dioxide emissions, several schemes for a new generation of airship are being considered.

Credit Card Overhauls Seem Likely Sat, 05 Jul 2008 04:12:55 GMT
Proposed regulations changes are strongly opposed by the credit card industry, which has long beat back any regulatory constraints.

Your Money: When Credit Gets Tight, a 401(k) Loan Becomes Tempting Sat, 05 Jul 2008 03:47:49 GMT
Examining the rationales for supporting or damning the practice of borrowing against a retirement fund can be a useful exercise.

Stocks & Bonds: Shares Decline in Japan for 12th Consecutive Day Sat, 05 Jul 2008 05:40:15 GMT
In Tokyo, the benchmark Nikkei 225 stock average fell 0.2 percent on Friday as it continued its longest losing streak since 1954, a run in which it has dropped more than 8 percent of its value.

A Solid Surface for Disney Success Sat, 05 Jul 2008 03:55:44 GMT
Mater, the tow truck from “Cars,” will be one of the featured characters in a new ice show being planned by Disney.

Shortcuts: ‘Two for One’ ... ‘Free Delivery’ ... Hooked Yet? Sat, 05 Jul 2008 04:00:05 GMT
Shopping at sales is just one of the ways we fool ourselves when it comes to money.

Market Values: The Upside of the Debt Called High Yield Sat, 05 Jul 2008 04:01:08 GMT
If you fear losing too much in stocks and earning too little in cash or ultra-safe bonds, then high-yield corporate debt may be worth considering.

Saturday Interview: Investing in Longevity and Security Sat, 05 Jul 2008 03:45:59 GMT
Theodore A. Mathas

Off the Charts: Gas Was Once a Bigger Expense Sat, 05 Jul 2008 03:54:30 GMT
This quarter marks the first time since 1980 that consumer spent more on gas and energy products than on motor vehicles.

New Head of Development Bank Puts Focus on Russia Sat, 05 Jul 2008 03:46:41 GMT
Thomas Mirow of the European development bank.

Need Help Finding Your Bliss? Hire a Coach Sat, 05 Jul 2008 04:00:42 GMT
There are as many flavors of career counselors as there are careers.

Talking Business: On Day Care, Google Makes a Rare Fumble Sat, 05 Jul 2008 05:52:18 GMT
A battle between employees and their company over in-house day care may be representative of greater changes at Google.

Google Told to Turn Over User Data of YouTube Fri, 04 Jul 2008 04:30:23 GMT
The order raised concerns that the online video viewing habits of tens of millions of people could be exposed.

Fighting Inflation, Europeans Raise Rate Fri, 04 Jul 2008 09:40:09 GMT
The European Central Bank, spooked by soaring prices for food and fuel, raised its benchmark interest rate a quarter of a percentage point to 4.25 percent.

Criminal Charges Against Continental in Deadly Concorde Crash Fri, 04 Jul 2008 04:44:42 GMT
Air France Concorde flight 4590 crashed shortly after take-off on July 25, 2000, killing all 109 people aboard and four others on the ground.

Economic Problems in Britain Mimic Those in U.S. Fri, 04 Jul 2008 09:39:41 GMT
The British economy, like that of the U.S., may be headed for recession, and the reasons are similar: the collapse of a once red-hot housing market and rising inflation.

Russia Presses U.S. Bank Over Money Laundering Fri, 04 Jul 2008 04:43:00 GMT
The Russian government sought to make Bank of New York Mellon liable for $22.5 billion in damages for a money-laundering scandal that helped undermine Russia’s economy.

Business Briefing | Transportation: Air France Weighing High-Speed Rail Service Sat, 05 Jul 2008 04:18:23 GMT
Air France is looking into replacing some of its short-haul European flights with high-speed rail service, in partnership with a French train operator.

Business Briefing | Housing: British Housing Downturn Claims a Casualty Sat, 05 Jul 2008 04:16:47 GMT
The London inner-city property developer City Lofts Group said on Friday that it had appointed Ernst & Young as administrator, becoming one of the first notable casualties of Britain’s housing downturn.

Business Briefing | Transportation: Mercedes and Audi Sales Up; British Car Sales Fall Sat, 05 Jul 2008 04:18:02 GMT
The German carmaker Daimler reported on Friday that sales for its Mercedes-Benz unit were up 8 percent to a record in the first half of the year.

Business Briefing | Regulatory Matters: Société Générale Fined for Internal Control Lapses Sat, 05 Jul 2008 04:17:37 GMT
The Banking Commission of France fined Société Générale 4 million euros ($6.3 million) on Friday for serious breaches in internal controls revealed by the French bank’s 4.9 billion euro loss this year.

Business Briefing | Acquisitions: Europe Delays Decision on Mining Company Merger Sat, 05 Jul 2008 04:17:20 GMT
European Union regulators extended an investigation into BHP Billiton’s hostile bid for the Rio Tinto Group because of “serious doubts” about the combination.

Morgan Stanley’s Rescue Efforts Fri, 04 Jul 2008 17:02:35 +0000
The new Bell Canada deal agreement, which keeps alive the largest private equity deal in history, owes its origins to several parties, principally to Providence Equity Partners‘ Jonathan Nelson and Citigroup’s Chad Leat. But Morgan Stanley, the lead adviser to the buyers’ group, also played a role. And while the firm has tumbled a [...]

Tallying the Buyout Survivors and Casualties Fri, 04 Jul 2008 16:22:21 +0000
For Canadians, the Fourth of July is just an ordinary day. But shareholders in Bell Canada are likely to celebrate all the same, as the takeover of the country’s largest telecom seems likely to go forward. Bell Canada, its private equity buyers and their banks managed to achieve a compromise to their impasse over the deal’s [...]

Bell Canada Reaches New Buyout Agreement Fri, 04 Jul 2008 13:17:15 +0000
Bell Canada announced it has renegotiated its deal to sell itself to a consortium of investors for about $50 billion, marking the end of months-long saga over the fate of the largest buyout in history. The new deal, crafted over the past few weeks, still calls for the buyers to pay $42.75 a share, obviating [...]

The Buyout Boom’s Last Big Deal Thu, 03 Jul 2008 17:43:40 +0000
It’s time to celebrate the first anniversary of the last gasp of the buyout boom. On July 3, 2007, just as New York’s financial elite were packing up early and heading to their summer haunts in the Hamptons, Blackstone announced a $26 billion buyout of Hilton Hotels. The credit markets had already begun to fray at [...]

Hedge Fund Felon Appears in Court Thu, 03 Jul 2008 16:33:50 +0000
Samuel Israel III, one-time hedge fund swindler and erstwhile camper, faced a fresh charge of bail jumping on Thursday and was ordered to jail immediately,a day after his mother persuaded him to end a high-profile run from justice. Mr. Israel, who faked his own death nearly four weeks ago to avoid a 20-year prison sentence for [...]

Where Airlines Might Go Next for Cash — or Not Thu, 03 Jul 2008 15:56:06 +0000
This holiday weekend, many travelers will get a first-hand look at the extreme measures that airlines are taking to raise revenue, cut costs and just remain in the air in these times of mind-bogglingly high jet fuel prices. They are charging passengers for bags, grounding inefficient aircraft and reducing their work force, all in an [...]

What is Facebook Worth? (Part 37) Thu, 03 Jul 2008 14:55:18 +0000
From our colleagues at Bits: There has been some speculation recently about what is being called an “internal Facebook” valuation – a value the company has assigned to its own common stock that is dramatically lower than the $15 billion valuation set so publicly last year by Microsoft’s investment. According to the transcript of a June 13 [...]

Despite New Fame, Job Hunt Continues for Ex-Banker Thu, 03 Jul 2008 14:28:26 +0000
Last week DealBook met Joshua Persky, an out-of-work investment banker, who had become so frustrated in his six-month job search that he decided to get a little creative. He stood on a street corner in Midtown Manhattan for five days handing out resumes wearing a sandwich board that said, “Experienced MIT Grad For Hire.” “It [...]

Penn National Deal Falls Apart Thu, 03 Jul 2008 13:36:03 +0000
Penn National Gaming said Thursday that it has terminated its $6.1 billion sale to two private equity firms, after agreeing that completing the deal would not be possible without a lengthy litigation process. Under the terms of the now-terminated deal, the casino operator would have received $67 a share in cash from Fortress Investment Group and [...]

Sam Israel’s Short, Strange Camping Trip Thu, 03 Jul 2008 12:53:37 +0000
Samuel Israel III, the fugitive hedge fund fraudster, was on the phone with his mother just before turning himself in to the police on Wednesday. It was just one of the many bizarre aspects of Mr. Israel’s short time on the lam, which came after he faked suicide on the day he was supposed to [...]

The New Old Age: The Car Key Conversation Thu, 03 Jul 2008 20:48:24 GMT
The “car key conversation” is a dreaded milestone of eldercare and one that adult children dread most.

As Gas Prices Soar, Elderly Face Cuts in Aid Sat, 05 Jul 2008 05:55:55 GMT
Katie Clark drives 100 miles a day to care for Evelyn and Bill Harman in Union, Mich.

Despair Drives Suicide Attacks by Iraqi Women Sat, 05 Jul 2008 06:02:31 GMT
Iraqis inspecting bodies after a suicide attack last month by a woman wearing an explosive vest in Baquba, in Diyala Province. In addition to the bomber, 15 other people died in the attack.

Colombia Releases Video of Jungle Rescue Sat, 05 Jul 2008 06:05:36 GMT
Video taken by a Colombian agent during the rescue shows Ingrid Betancourt in the helicopter that extracted her from six years of captivity in the jungle.

Betancourt, in France, Details Her Captivity Sat, 05 Jul 2008 05:20:04 GMT
President Nicolas Sarkozy and his wife, Carla, left, welcomed Ingrid Betancourt on Friday at a military airport in France.

Iran Responds Obliquely to Nuclear Plan Sat, 05 Jul 2008 04:53:01 GMT
Iran failed to address the central issue of whether it would halt its uranium enrichment activities, officials said.

Congolese Politician Goes Before International Court Sat, 05 Jul 2008 04:55:19 GMT
Jean-Pierre Bemba, a senator and former militia leader accused of war crimes, appeared in court in The Hague on Friday.

Argentina Export Tax Sets Off Political Furor Sat, 05 Jul 2008 05:22:07 GMT
Farm leaders said they were prepared to renew blockades of major highways and cut off exports of grains if the measure was approved.

India Party Struggling for U.S. Nuclear Deal Sat, 05 Jul 2008 04:56:46 GMT
India’s governing Congress Party was on the verge of swapping allies on Friday in a last-ditch effort to push through a controversial nuclear deal with the United States.

Pakistani Says Army Knew Atomic Parts Were Shipped Sat, 05 Jul 2008 04:56:26 GMT
Abdul Qadeer Khan, the architect of Pakistan’s nuclear program, said that his country gave centrifuges to North Korea in a 2000 shipment supervised by the army.

Blast in Belarus Injures Dozens Sat, 05 Jul 2008 04:58:20 GMT
A bomb exploded during an outdoor concert Minsk, the capital of Belarus, injuring dozens of people.

U.S. at Odds With Afghans on Airstrike Sat, 05 Jul 2008 05:11:52 GMT
The American military said that its airstrikes in eastern Afghanistan hit two vehicles carrying insurgents, while a provincial governor said that civilians had been killed.

A Dancer Goes Back to Her Past in Berlin Sat, 05 Jul 2008 03:32:44 GMT
Dominique O. Rosales, on one leg, rehearsing at her old school.

Trying to Teach ‘The Fly’ to Soar Operatically Sat, 05 Jul 2008 03:33:37 GMT
The mezzo-soprano Ruxandra Donose and the bass-baritone Daniel Okulitch in “The Fly.”

World Briefing | Europe: Georgia: 2 Killed in South Ossetia Sat, 05 Jul 2008 05:03:30 GMT
A firefight between Georgian troops and soldiers from the separatist province of South Ossetia left two people dead and at least 11 wounded, a spokeswoman for the separatist government said.

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